The formula to the compute direct labor time variance is to calculate the difference between

A) Actual Costs - Standard Costs
B) Actual Costs + Standard Costs
C) (Actual Hours × Standard Rate) - Standard Costs
D) Actual Costs - (Actual Hours × Standard Rate)

Direct Labor Time Variance

The difference between the estimated time to produce a good and the actual time taken, often used in cost accounting.

Actual Costs

Actual costs are the expenses that a company incurs for producing goods or services, including materials, labor, and overhead, as opposed to estimated or budgeted costs.

Standard Costs

The predetermined costs of manufacturing a product or providing a service, used as benchmarks against actual costs.